NASSCOM hosts the 6th edition of the Engineering Summit in Pune
- 600+ Engineering, Research and Design (ER&D) companies in India
- 400+ Global ER&D centers in India
- 200K+ Engineers employed by service providers, engineering firms in India
- USD 12.4 billion ER&D export revenue estimated from India in FY2014
- USD 37-45 billion ER&D revenues from India – NASSCOM 2020 vision
To assess the effect of the continuously evolving engineering landscape in India, the National Association of Software and Services Companies (NASSCOM) today organized its annual NASSCOM Engineering Summit 2014 in Pune. Focused on the theme of “Engineered from India”, the two-day summit is aimed to provide a platform for the engineering community to engage with each other, discuss issues of common interest and network with customers and partners to create a common framework for the engineering future in India.
Expressing his views, Mr. B.V.R Mohan Reddy, Vice Chairman, NASSCOM, said, “the rapidly increasing market for products and services and the presence of a large pool engineers and data scientists makes India a destination of choice for the global corporations for off-shoring their ER&D needs. The new paradigm of globally interdependent economies is fuelling the globalisation of R&D solutions. Major engineering challenges are being addressed by leveraging the capacities available in various geographies and building interdisciplinary collaboration. The next decade will largely be driven by disruptive technologies, changes in competitive landscape and consumer preferences, increased digitization and demand for mobility. We are positive that these opportunities will continue to be addressed by Engineering companies to establish India as a strong destination for innovative solutions.”
Speaking on the side-lines, Mr. Vijay Ratnaparkhe, Chairman, NASSCOM Engineering Council, said, “We at NASSCOM have built an ambitious plan and vision to harness the engineering opportunity from India. The Engineering Council has been implementing multiple initiatives that focus on talent development, branding, new technologies like Internet of Things, policy interventions and special interest groups on focused verticals. The summit this year will provide a unique opportunity to companies for showcasing disruptive technologies and how they are redefining the engineering landscape in India.”
India is fast emerging as a solution provider to the global challenges in the engineering and design arena. India today is a home to over 400+ global ER&D organization with most being the second largest centre outside their home location employing over 200,000 engineers. The scalable talent pool across diverse areas of science, technology and management, along with robust academic and research infrastructure and a progressive policy environment is spurring the industrial R&D activity in the country. India is also steadily building the entrepreneurship climate to enable successful growth and innovation. The ER&D services market has played an important role in developing the ER&D capabilities of the country. Escalating cost pressures and demand saturation in developed economies are encouraging firms to increase ER&D spends on efficiency improvements and product localizations. India is now an ideal engineering hub for the global ER&D market with more companies using its supply base for future growth. It is important for major stakeholders of this industry –Government, industry and trade associations to ensure the growth trajectory of the industry and moving it to the next level of product development.